Demolition works at Cole Waterhouse and Peveril Securities’ Novus Point logistics and distribution scheme in Newcastle-under-Lyme are nearing completion.
Last month outline planning approval was granted for the 15.9 acre employment site scheme which will form an extension to the existing Lymedale Business Park. Hutcheon Construction started work in May and, despite a brief hiatus while Covid-19 working arrangements were put in place, work has continued at pace and is now nearing completion.
The demolition and environmental clean-up programme has seen 2,400 tonnes of recycled crushed concrete reused to level the site. A further 28 tonnes of wood and 28 tonnes of scrap metal plus a vast amount of general waste and accumulated litter have been removed having built up over thirty years.
Commenting on the progress since acquiring the site last year Damian Flood, CEO of Cole Waterhouse said: “We started demolition in May and the team has made extraordinary progress, working under Covid secure conditions. When complete Novus Point will provide a significant employment boost to the local area, creating up to 500 jobs locally, so we are keen to make progress as rapidly as possible to help with the region’s economic recovery.”
He continued: “We have commenced the letting process via Sixteen Real Estate now that outline planning consent is in hand. We have also received some positive enquiries from a number of high profile funders looking to forward fund the scheme. It is in one of Staffordshire’s prime business locations and there is a significant short supply of good quality, new-build logistics space in the area so demand is high.”
Kurt Hutcheon from Hutcheon Construction added: “We have removed the old buildings and structures from the site and a huge amount of rubbish which had accumulated over time. We have not only cleared and prepared the ground for the next stage of development but have made sure the site perimeter is totally secure and completed the work four weeks ahead of schedule. It was really encouraging that while we were on site two of the neighbours came across and expressed their appreciation for the minimal disruption and noise and said how much better the huge site looks now it is cleared. It’s great to get that kind of feedback.”
Consent has been given for a development of 298,000 sq ft, however the site is capable of accommodating up to 360,000 sq ft. The £30m development will support over 130 full time employees during construction and approximately 500 full time roles once the site is in operation, generating up to £37.3m GVA for the local economy.
MHA Architects and Lichfields planning consultants have advised on the application. Metis Real Estate (Metis) has been appointed as capital markets’ adviser for the scheme with Sixteen Real Estate instructed as sole letting agent.